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international news
Apollo Tyres Leadership Takes Pay Cut
Onkar S. Kanwar, Chairman & Managing Director of Apollo Tyres
The Apollo Tyres Leadership Team has announced a voluntary reduction in pay due to the impact of Co- vid-19 on the automotive industry.
The Apollo Tyres Chairman and Managing Director, Onkar S Kanwar and the Vice Chairman and Managing Director, Neeraj Kanwar recently announced a 25 per cent reduction in their salary during these tough, testing times. Further- more, the Senior Management has also taken a voluntary reduction in their salary by 15 per cent in a show of solidari- ty due to the rapidly deteriorating market conditions caused by the Covid-19 pandemic.
- automotive industry as anticipation builds that the worst is yet to come with Covid-19.
Commenting on this, Onkar said, “This is an incredibly dif- - chartered waters but as ‘One Family’ we will work together right direction, to overcome this period. We are experiencing slowing demand and disrupted supply chains due to Covid-19. We are working on further measures which we will provide
Neeraj Kanwar, Vice Chairman and Managing Director of Apollo Tyres
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